The Long & Foster Market Minute

Focus On: Bethany, Fenwick, and Ocean View Housing Market March 2021

Zip Code(s): 19930, 19944, 19970 and 19967
Units Sold
90
Active Inventory
78
Median Sale Price
$440,000
Days On Market
26
Up 27%
Vs. Year Ago
Down -80%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -76%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 90 sold this month in Bethany, Fenwick, and Ocean View Real Estate versus 69 last month, an increase of 30%. This month's total units sold was higher than at this time last year, an increase of 27% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 318 units or 80%. The total number of active inventory this March was 78 compared to 396 in March 2020. This month's total of 78 is lower than the previous month's total supply of available inventory of 101, a decrease of 23%.

Median Sale Price
Last March, the median sale price for Bethany, Fenwick, and Ocean View Homes was $385,000. This March, the median sale price was $440,000, an increase of 14% or $55,000 compared to last year. The current median sold price is 4% lower than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
109
Current Contracts
109
Sold Vs. List Price
99.7%
Months of Supply
0.9
Up 10%
Vs. Year Ago
Up 98%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -84%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in Bethany, Fenwick, and Ocean View, compared to 5.6 in March 2020. That is a decrease of 84% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 109 homes newly listed for sale in Bethany, Fenwick, and Ocean View compared to 99 in March 2020, an increase of 10%. There were 109 current contracts pending sale this March compared to 55 a year ago. The number of current contracts is 98% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bethany, Fenwick, and Ocean View was 99.7% of the average list price, which is 3.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 109, a decrease of 76%.

The Long & Foster Market Minute Bethany, Fenwick, and Ocean View are defined as properties listed in zip code/s 19930, 19944, 19970 and 19967.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.